Blackstreet Capital Partners Sells PJCOMN Acquisition Corporation

Business Wire, Oct 5, 2007

BETHESDA, Md. -- Blackstreet Capital Partners today announced the sale of PJCOMN Acquisition Corporation to Essential Pizza, Inc. PJCOMN owns and operates 82 Papa John's pizza restaurants in Colorado and Minnesota. Terms of the transaction were not disclosed.

"We are very excited to have concluded this transaction with Blackstreet and look forward to working with Papa John's International and our dedicated team of operators in Colorado and Minnesota," said H. Clifford Harris, the President of PJCOMN.

Aldus H. Chapin II, Managing Director of Blackstreet Capital Partners said, "This was a very successful transaction for our fund and highlights our core acquisition strategy. We want to thank Papa John's International for their support over the past two years and wish Mr. Harris and his team the very best as they continue to develop the acquired territories."

About Papa John's

Papa John's International, Inc., the world's third largest pizza company, has been rated #1 in customer satisfaction among all national QSR chains for six straight years in the American Customer Satisfaction Index (ACSI). As of July 1, 2007, Papa John's had 3,090 restaurants (614 company-owned and 2,476 franchised) operating in 50 states and 27 countries. For more information about the company, please visit www.papajohns.com.

About Blackstreet Capital Partners

Blackstreet Capital Partners, LLC, is a Bethesda, MD based private equity firm with $88 million of capital under management. Blackstreet seeks investments in a range of industries, including manufacturing/distribution, health care, restaurants, specialty retail and business services. For more information on Blackstreet, please visit www.blackstreetcapital.com